Seju Patel Acquires Hotel/Motel/Hostel/B&B In Deerfield Beach For $7M
351 West Hillsboro Boulevard, Deerfield Beach, Florida 33442, United States
$7,000,000
$244/SF
Building Size
28,585 SF
Asset Type
Hotel
Closing
Apr 5, 2022
About this deal
AI
The hotel/motel/hostel/B&B located at 351 W Hillsboro Blvd in Deerfield Beach, FL has been sold. The transaction took place on 04/06/2022. The property spans across 28,585 square feet and was sold for a price of $7,000,000, resulting in a price per square foot of $244.
Summary of transaction details
- Property Type: Hotel/Motel/Hostel/B&B
- Transaction Amount: $7,000,000
- Address: 351 W Hillsboro Blvd, Deerfield Beach, FL
- Square Footage: 28,585
- Price per Square Foot: $244
The buyer of the property is Seju Patel, while the sellers are Mark M. Chloupek and Keith A. Cline.
Players
Deerfield Beach Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93